Thursday, July 9, 2015

Wipro's Azim Premji gives 18% of his stake in company for charity

Wipro's Azim Premji gives 18% of his stake in company for charity

Wipro Ltd’s chairman Azim Premji, who is India’s top giver, has given away an additional 18% of his stake in India’s third largest IT services company to his foundation.

The billionaire founder’s latest share transfer will bring an additional Rs 530 crore into the Azim Premji Foundation’s corpus this year by way of dividends and help expand its reach.

Premji who set up the Azim Premji Foundation in 2001 to focus on philanthropy and improve the country’s school system, signed a giving pledge in 2013 along with philanthropists such as Warren Buffett and Bill and Melinda Gates among others.